- FansUnite Entertainment (CSE:FANS) has acquired McBookie, a betting services provider from the United Kingdom, as a subsidiary
- McBookie currently has approximately 10,000 active members, and has handled C$340 million in betting since 2009
- The acquisition offers FansUnite the opportunity to consolidate its presence in the UK market
- While physical sports have been impacted by COVID-19, online betting on virtual sports has experienced encouraging growth
- FansUnite Entertainment (FANS) is up 2.47 per cent and is currently trading at $0.42 per share
FansUnite Entertainment (CSE:FANS) has acquired McBookie, a betting services provider from the United Kingdom, as a subsidiary.
The recently acquired company provides sports betting, casino, and virtual sports offerings to approximately 10,000 active customers. It is a leading provider of lawful, regulated betting services in the UK.
Since its inception in 2009, McBookie has handled approximately C$340 million in betting. In the last three years alone, the company’s platform has taken in over $135 million in betting volume.
FansUnite’s acquisition of McBookie provides the entertainment company with an opportunity to consolidate its presence in the UK.
FansUnite’s Chairman and CEO, Darius Eghdami, stated that the company has always believed in the potential of McBookie’s brand.
“Our most recent investment will allow us to provide this asset with the necessary resources to become a leader in the UK market.
“Remarkably, McBookie has been able to build their brand and customer base through mostly organic channels. Paul Petrie and Damian Walker are excellent operators,” he said.
This year, the COVID-19 health crisis has significantly impacted physical sporting events and related sports bets.
However, this has motivated many gamblers to move online to casino and virtual sport offerings like McBookie’s.
McBookie’s founders and Directors, Paul Petrie and Damian Walker, commented on the acquisition.
“With little or no sport for customers to bet on since the middle of March, we have been extremely encouraged by the strong performance of the casino and virtuals.
“These are exciting times ahead. We look forward to working with the FansUnite team to continue to grow the McBookie platform throughout the UK,” he said.
FansUnite Entertainment (FANS) is up 2.47 per cent and is trading at $0.42 per share at 1:32pm EDT.